Menu

Legal Help Group...A Different Kind of Law Firm
Helping Florida Residents Fight Foreclosure

Avoid Miami Foreclosure with Cash for Keys

There’s a possible deal in town for underwater homeowners – cash for keys

If foreclosure is imminent and you’ve exhausted all other options available to you, a Miami foreclosure defense lawyer can help you activate a new incentive – one the banks are not likely to tell you about – it’s called cash for keys. Cash for keys means you hand over the deed of your home instead of going through the costly foreclosure process and the bank gives you an incentive check. The money you receive is intended to pay for relocation expenses so you can move to a new area, get a new job, etc.

Avoiding Miami foreclosure is possible and it’s in the bank’s best interest to forego the time and expense involved with a foreclosure, but some banks have to be convinced of that fact. Cash for keys is certainly far easier on the homeowner who can avoid public foreclosure proceedings, and move out on their own terms on an agreed-upon date instead of being forced out.

Banks Accused of Shady Dealings now Approve Miami Foreclosure Options

As regulatory investigations result in further lengthening of the Miami foreclosure process – where banks were accused of robo-signing (approving foreclosure papers without reviewing them) and using faulty documents to see people’s homes – the banks have turned around and started encouraging other options to stop foreclosure. Instead of blocking short-sales, for example, they’re now encouraging them to speed up the process.

One of the options open to homeowners who cannot avoid foreclosure is an incentive program often called ‘cash for keys’. This program is not one that the banks are likely to flaunt in front of distressed homeowners because it results in the homeowner getting a lump sum of cash upon handing over the keys to their home instead of undergoing the foreclosure process. If you are going through the foreclosure process and the bank has not offered you a cash transaction, get in touch with a Miami foreclosure defense attorney immediately.

Of course you should be worried that you’re not getting everything you ought to out of the foreclosure process. In addition, you should also be very concerned that the bank’s legal documents include the right for them to come after you post-sale and sue for the deficiency between your mortgage loan and what your home sold for. It’s called deficiency judgment and it’s the card the banks keep in their back pocket to get more money out of you later.

Here’s an important secret for distressed homeowners facing foreclosure: foreclosures are expensive and banks now realize that. It’s true, banks are discovering that foreclosures are costly affairs and they’ve come around to realize that helping homeowners avoid foreclosures is a good idea.

Another secret? Banks want to avoid bad debt on their books, and so they’re not in the mood to help homeowners simplify the process of getting out of bad mortgages. Unfortunately, the banks have also proven to be terribly sneaky negotiators in the past, so homeowners are warned to get a good Miami foreclosure defense lawyer on their side to avoid nasty surprises after the fact.

Some homeowners have trusted the banks only to find themselves slapped with deficiency judgments when they thought they were safe and their foreclosure was put behind them. This is bad faith negotiating, but the banks have proven capable of it over and over.

Whatever your situation may be, getting the right advice and legal counsel can help you. For a no cost, no obligation consultation and review of your case call a Legal Help Group Law Firm professional right now at 877-829-4104, or fill out the “contact me” form to connect with a Miami foreclosure defense attorney.

Testimonials

Kiecia G. (Foreclosure Defense Client Review From Wesley Chapel, FL) – “On behalf of my husband and I…Though we have withdrawn from counsel with Legal Help Group I wanted to say that working with you was wonderful! You are informative

Ron L. (Foreclosure Defense Client Review From Woodmere, NY)- "I would like to thank Izen for all of her hard work and dedication to help me stay in my house. Over the last year that I've been dealing with her

This Website is an attorney advertisement and is for informational purposes only. The hiring of an attorney is an important decision that should not be based solely upon advertisements. Materials in Legal Help Group, website have been prepared to permit you to learn more about the services we offer to clients. These materials do not, and are not intended to, constitute legal advice. Neither transmission nor receipt of such materials will create an attorney-client relationship between the sender and receiver. Users are advised not to take, or refrain from taking, any action based upon materials in this website without consulting legal counsel. Prior results do not guarantee a similar outcome. Any reference on this site to "Loan Modifications" is meant to be used only for educational purposes. Legal Help Group is not a "Loan Modification" company and does not take clients solely to negotiate new mortgage terms.